Komori
Earnings presentation8869Meiwa Estate Company LimitedReal estate

First-Quarter Financial Results Presentation for the Fiscal Year Ending March 2027

In the first quarter of the fiscal year ending March 2027, consolidated revenue and profit declined due to a reaction to the concentration of condominium deliveries in the same period of the previous fiscal year. Meanwhile, the Brokerage and Property Management segments reported higher revenue and profit. The company assessed its performance as being in line with its full-year plan and left its full-year forecasts unchanged.

Worth reading
59In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
2719
¥ million (year-on-year decrease in operating profit)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationFirst quarter of the fiscal year ending March 20279 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥26,919 million-29.2%
Operating profit¥3,088 million-46.8%
Ordinary income¥2,541 million-51.9%
Net income¥1,703 million -53.4%profit attributable to owners of the parent
Gross Profit Margin22.3 %
Operating profit margin11.5 %
Selling, general and administrative expenses¥2,916 million
Results for the three months of the current quarter
Net Sales
¥26,919 million
Operating profit
¥3,088 million
Ordinary income
¥2,541 million
Net income
¥1,703 million
Full-year earnings forecast
Net Sales
¥85,000 million
Operating profit
¥7,000 million
Ordinary income
¥4,400 million
Profit attributable to owners of parent
¥2,900 million
Progress against full-year forecast　通期の予想に対して、いまどこまで進んだかの割合です。
Net Sales31.7%
Gross profit30.8%
Selling, general and administrative expenses23.3%
Operating profit44.1%
Ordinary income57.8%
Profit attributable to owners of parent for the quarter58.7%
Condominium sales revenue37.8%
Brokerage revenue26.8%
Purchase-and-resale revenue19.2%
Purchase and sale brokerage fees23.7%
Wealth Solutions revenue29.9%
Property management revenue23.7%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
In line with plan
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Condominium sales revenue¥-12,375 million
  • Brokerage revenue¥1,159 million
  • Property management revenue¥109 million
  • Rental revenue¥1 million
  • Other net sales¥-17 million
  • Condominium sales operating profit¥-2,896 million
  • Brokerage operating profit¥186 million
  • Property management operating profit¥14 million
  • Rental operating profit¥3 million
  • Other operating profit¥-11 million
  • Adjustments¥-16 million
  • Decrease in gross profit¥-2,675 million
  • Increase in selling, general and administrative expenses¥-44 million
New initiatives
  • Launch of 2 new condominium projects
  • Going paperless through expanded functionality for kanri.online®
  • In-house development and operation of the property management staffing service "Pochitto Work®"
Key KPIsA metric the company considers important as a management benchmark.
  • Condominium handovers242 units
    Year on year against the same period last year-44.5%
  • Condominium acquisitions¥4,596 million
    Year on year against the same period last year-86.2%
  • Condominium supply value¥25,090 million
    Year on year against the same period last year+9.2%
  • Condominium contract value¥11,731 million
    Year on year against the same period last year-36.7%
  • Wealth Solutions settlements and deliveries8 buildings
  • Units under management56,084 units
    Year on year against the same period last year+6.3%
  • New units under management1,123 units
    Year on year against the same period last year+51.1%
Segment results
  • Condominium Development
    Net Sales¥15,147 million (YoY -45.0%)
    Segment profit¥2,022 million (YoY -58.9%)
  • Distribution
    Net Sales¥9,913 million (YoY +13.2%)
    Segment profit¥1,094 million (YoY +20.5%)
  • Management
    Net Sales¥1,661 million (YoY +7.1%)
    Segment profit¥92 million (YoY +19.0%)
  • Rentals
    Net Sales¥166 million (YoY +0.6%)
    Segment profit¥67 million (YoY +5.5%)
  • Other
    Net Sales¥31 million (YoY -36.7%)
    Segment profit¥9 million (YoY -53.9%)
Financial targets
Equity ratio
25.1 %
As ofEnd of first quarter of fiscal year ending March 2027
Number of stores and locations
Number at period-end10 stores (Tokyo 5, Kanagawa 3, Sapporo 1, Fukuoka 1)
Annual Dividend
Annual dividend per share¥40
Payout ratio
30 % target
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredFirst quarter of the fiscal year ending March 2027
Net Sales¥26,919 million (YoY -29.2%)
Operating profit¥3,088 million (YoY -46.8%)
Ordinary income¥2,541 million (YoY -51.9%)
Net income¥1,703 million (profit attributable to owners of the parent) (YoY -53.4%)
Gross Profit Margin22.3 %
Operating profit margin11.5 %
Selling, general and administrative expenses¥2,916 million
Results for the three months of the current quarterNet Sales ¥26,919 million / Operating profit ¥3,088 million / Ordinary income ¥2,541 million / Net income ¥1,703 million
Full-year earnings forecastNet Sales ¥85,000 million / Operating profit ¥7,000 million / Ordinary income ¥4,400 million / Profit attributable to owners of parent ¥2,900 million
Progress against full-year forecastNet Sales 31.7% / Gross profit 30.8% / Selling, general and administrative expenses 23.3% / Operating profit 44.1% / Ordinary income 57.8% / Profit attributable to owners of parent for the quarter 58.7% / Condominium sales revenue 37.8% / Brokerage revenue 26.8% / Purchase-and-resale revenue 19.2% / Purchase and sale brokerage fees 23.7% / Wealth Solutions revenue 29.9% / Property management revenue 23.7%
Self-assessment against the planIn line with plan
Segment resultsSegment Condominium Development / Net Sales ¥15,147 million (YoY -45.0%) / Segment profit ¥2,022 million (YoY -58.9%), Segment Distribution / Net Sales ¥9,913 million (YoY +13.2%) / Segment profit ¥1,094 million (YoY +20.5%), Segment Management / Net Sales ¥1,661 million (YoY +7.1%) / Segment profit ¥92 million (YoY +19.0%), Segment Rentals / Net Sales ¥166 million (YoY +0.6%) / Segment profit ¥67 million (YoY +5.5%), Segment Other / Net Sales ¥31 million (YoY -36.7%) / Segment profit ¥9 million (YoY -53.9%)
Breakdown of Factors Affecting the ChangeCondominium sales revenue ¥-12,375 million, Brokerage revenue ¥1,159 million, Property management revenue ¥109 million, Rental revenue ¥1 million, Other net sales ¥-17 million, Condominium sales operating profit ¥-2,896 million, Brokerage operating profit ¥186 million, Property management operating profit ¥14 million, Rental operating profit ¥3 million, Other operating profit ¥-11 million, Adjustments ¥-16 million, Decrease in gross profit ¥-2,675 million, Increase in selling, general and administrative expenses ¥-44 million
Key KPIsIndicator name Condominium handovers / Value 242 units / Year on year against the same period last year -44.5 units, Indicator name Condominium acquisitions / Value ¥4,596 million / Year on year against the same period last year ¥-86.2 million, Indicator name Condominium supply value / Value ¥25,090 million / Year on year against the same period last year ¥9.2 million, Indicator name Condominium contract value / Value ¥11,731 million / Year on year against the same period last year ¥-36.7 million, Indicator name Wealth Solutions settlements and deliveries / Value 8 buildings / Year on year against the same period last year Not disclosed, Indicator name Units under management / Value 56,084 units / Year on year against the same period last year 6.3 units, Indicator name New units under management / Value 1,123 units / Year on year against the same period last year 51.1 units
Number of stores and locationsNumber at period-end 10 stores (Tokyo 5, Kanagawa 3, Sapporo 1, Fukuoka 1) / Number of store openings and closures during the period Not disclosed
Financial targetsEquity ratio 25.1 %
Annual DividendAnnual dividend per share ¥40 / Breakdown Not disclosed
Payout ratio30 % (target)
New initiativesLaunch of 2 new condominium projects, Going paperless through expanded functionality for kanri.online®, In-house development and operation of the property management staffing service "Pochitto Work®"
Items this document does not state (10)
Unit price and quantity metricsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

As a reaction to the concentration of condominium deliveries in the same period of the previous fiscal year, the number of condominiums delivered this fiscal year fell from 436 to 242.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
First-Quarter Financial Results Presentation for the Fiscal Year Ending March 2027 | Meiwa Estate Company Limited (8869) timely disclosure | Komori